176,328 Shares in Crescent Energy Company $CRGY Bought by Inspire Investing LLC

Key Points

• Inspire Investing acquired 176,328 Crescent Energy shares during the third quarter, valued at approximately $2.27 million. Institutional investors and hedge funds collectively own 52.11% of the company.
• Crescent Energy reported quarterly earnings of $0.69 per share, beating estimates of $0.59, while revenue reached $1.39 billion, up 55.3% year over year.
• The stock opened at $13.85 and pays a quarterly dividend of $0.12, representing a 3.5% annualized yield. Analysts hold a consensus “Moderate Buy” rating with an average price target of $17.14.

Inspire Investing LLC acquired a new position in shares of Crescent Energy Company (NYSE:CRGY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 176,328 shares of the company's stock, valued at approximately $2,273,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Yousif Capital Management LLC boosted its position in shares of Crescent Energy by 15.6% during the 3rd quarter. Yousif Capital Management LLC now owns 75,361 shares of the company's stock worth $971,000 after purchasing an additional 10,165 shares in the last quarter. Root Financial Partners LLC acquired a new position in shares of Crescent Energy during the 3rd quarter worth $31,000. SBI Securities Co. Ltd. grew its stake in shares of Crescent Energy by 441.8% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,838 shares of the company's stock worth $62,000 after purchasing an additional 3,945 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Crescent Energy in the 3rd quarter valued at about $400,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Crescent Energy by 135.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 8,509 shares of the company's stock valued at $110,000 after purchasing an additional 4,892 shares in the last quarter. Institutional investors and hedge funds own 52.11% of the company's stock.

Crescent Energy Stock Up 0.2%

Crescent Energy stock opened at $13.85 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of -276.96 and a beta of 1.60. Crescent Energy Company has a fifty-two week low of $7.68 and a fifty-two week high of $15.47. The stock's fifty day moving average is $13.57 and its two-hundred day moving average is $12.31.

Crescent Energy (NYSE:CRGY - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $1.39 billion during the quarter, compared to analysts' expectations of $1.26 billion. Crescent Energy had a return on equity of 10.52% and a net margin of 1.27%. The business's quarterly revenue was up 55.3% on a year-over-year basis. Analysts predict that Crescent Energy Company will post 2.31 EPS for the current fiscal year.

Crescent Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Monday, August 17th. Crescent Energy's dividend payout ratio is presently -960.00%.

Wall Street Analysts Forecast Growth

CRGY has been the subject of several recent analyst reports. Mizuho raised their price objective on shares of Crescent Energy from $15.00 to $16.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Morgan Stanley lowered shares of Crescent Energy to an "underweight" rating in a research report on Monday, August 3rd. Seaport Research Partners assumed coverage on shares of Crescent Energy in a report on Thursday, September 3rd. They issued a "sell" rating and a $12.00 target price for the company. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Crescent Energy in a report on Thursday, September 10th. Finally, Wells Fargo & Company lifted their price target on shares of Crescent Energy from $19.00 to $20.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Crescent Energy has a consensus rating of "Moderate Buy" and an average target price of $17.14.

About Crescent Energy

Crescent Energy Company is an independent energy company focused on the acquisition, development and operation of oil and natural gas properties in the United States. Its activities include exploration and production, well development, production optimization and management of mature and unconventional oil and gas assets.

The company's portfolio is concentrated in onshore U.S. basins, including the Eagle Ford in South Texas and the Uinta Basin in Utah, along with other producing properties.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.